Call me cynical, but I’m of the school of thought that there’s no such thing as a free lunch. People have a habit of saying that a realtor is free for buyers. I guess that’s true in some sense, but you didn’t come to my channel to get a “sense of the truth”. You came here for the whole truth, so here it is. The listing agent will negotiate their fee with the seller before listing the home. Typically, this will be between five to six percent of the sales price.
Some believe that if they don’t hire an agent to represent them they should be able to reduce the purchase price by the same amount that would have been paid to their agent. Seeing as how that would net the seller the same amount of money it makes sense.
But remember they’ve already agreed on a commission to pay their agent when the home sells. That doesn’t necessarily change because you don’t have an agent. In fact, you not having an agent just means the listing agent doesn’t have to split their commission. In most cases I don’t see buyers negotiating better deals for themselves as a result of not having an agent. In fact it’s usually the opposite.
Now that you understand the importance of having a realtor, you maybe asking how do I go about finding one. Before you just hop on Google and search for realtor near me, make sure you watch my video “how to find a realtor that knows VA lending”. I’m going to tell you the questions you need to ask to ensure you get paired with the right agent.